UK falls down OECD economic table

Press Association
Union Jack piggy bank
Union Jack piggy bank

Household incomes in the UK fell behind those of Australia and France during the financial downturn as the country tumbled down the rankings comparing major economies.

The UK fell from fifth to 12th place between 2005 and 2011 in a table of 30 states belonging to the Organisation for Economic Co-operation and Development (OECD), the Office for National Statistics (ONS) said.